Risk is inherent in all academic, administrative and business activities. ECU acknowledges that the adoption of a strategic and formal approach to risk management will improve decision-making, enhance outcomes and lead to greater accountability.
The aim of Risk Management is not to eliminate risk but rather manage the risks involved in all University activities, with the overall goal of maximising opportunities and minimising adversity.
Effective risk management requires:
- a strategic focus;
- forward thinking and an active approach to leadership and management;
- a balance between the cost of managing risk and the anticipated benefits of the outcome; and
- contingency planning, such as critical incident management and business continuity planning, in the event that mission critical threats are realised.